Taiwan’s exports fall

TAIPEI: Taiwan’s exports in 2015 fell by a 10th compared to a year ago, the largest annual decline since 2009, largely on weak international demand, the government said on Friday. Shipments last year totalled $280.5 billion, down 10.6 per cent from 2014 — the steepest fall since 2009 when the export sector, the major engine of the economy, saw shipments plummet 20.3 per cent following a global financial crisis. The release of gloomy figures comes with presidential and parliamentary elections due January 16, and Taiwan’s sluggish economy among voters’ key complaints. Taiwanese authorities in November cut economic growth forecast for 2015 to 1.06 per cent while also lowering expectations for next year to 2.32 per cent growth.